Francisco Partners and H.I.G. complete buyout of audiobook publisher RBmedia

• Founded in 1979, RBmedia has a catalog of over 66,000 titles
• Morgan Stanley, RBC Capital Markets and Barclays acted as financial advisors
• Francisco Partners invests in technology and technology-enabled businesses

Francisco Partners has teamed up with H.I.G. Capital to complete the acquisition of Landover, Maryland-based audiobook publisher RBmedia. The seller is KKR. No financial terms were disclosed.

Founded in 1979, RBmedia has a catalog of over 66,000 titles.

On the deal, Aaron Tolson, a managing director at H.I.G., said in a statement, “The audiobook industry is poised for sustained growth, and H.I.G. is thrilled to collaborate with RBmedia’s management team and Francisco Partners to usher the company into its next chapter. I am confident that together with Francisco Partners, we will bolster RBmedia’s position as a leading audiobook publisher.”

Morgan Stanley, RBC Capital Markets and Barclays acted as financial advisors. Kirkland & Ellis LLP provided legal advice to Francisco Partners and Latham & Watkins LLP provided legal advice to H.I.G. Capital.

Francisco Partners invests in technology and technology-enabled businesses. Francisco has raised approximately $45 billion in capital to date.

Based in Miami, H.I.G. invests in the middle market. H.I.G. Capital has $58 billion of capital under management.